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Feb 12, 2024 14:58 EEST
February 12 (SeeNews) - German car parts maker Continental plans to invest 150 million euro ($162 million) in the expansion of its plant in Serbia's second largest city of Novi Sad, city mayor Milan Djuric said.
The new investment will create 1,500 new jobs, in addition to the 1,900 workers already employed at the plant, Djuric said in a Facebook post over the weekend.
You can download the 2023 Automotive industry in Southeast Europe report here
Continental opened the new 140 million euro factory in Novi Sad last year. It produces high-tech solutions for vehicle interiors on an area of 30,000 square metres. Its construction started in 2021.
Along with the new factory opened in 2023, the company also has a facility for production of electronic systems for the automotive industry, and an R&D centre in Novi Sad.
In addition, Continental has a plant for pipes and pipe systems for vehicle powertrains in the northern city of Subotica, some 100 km north of Novi Sad.
($ = 0.928 euro)
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